Ethiopians in diaspora allowed to invest in banking, insurance sectors after a precedence setting court victory in 2017 by Sophia Bekele

“Sophia took up the gauntlet and headed to the court to vindicate her right” The National Bank of Ethiopia (NBE), the agency in charge of regulating the financial sector of the country, will soon introduce a new regulation that will allow Ethiopians in the diaspora to invest in the financial sector that includes banking, insurance and micro finance. The Council of Ministers during its extraordinary meeting approved the Draft Banking Business Proclamation, allowing Diaspora citizens to establish banks in Ethiopia. This was indicated by Yinager Desse (PhD), Governor of NBE,…

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3D printing technology discovery could reduce costs of surgery in Kenyan

As rugby-player Chris Muraguri wore his number 7 jersey while he recuperated at his one-roomed house in Nairobi, nursing a right foot double fracture, he surfed the internet looking for ways to speed up his healing. He was hoping to return to the rugby pitch as well as to his pharmacy class at the University of Nairobi. He came across 3D printing technology and made a skeletal prototype of his injured foot that he shared with his doctor, Prof Symon Guthua, a surgery consultant at the University of Nairobi. “Professor…

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Second Edition EurAfrican Forum 2019 to take place in July themed, Partnership of Equals: Sharing Values, Sharing Prosperity

EurAfrican Forum, an action-oriented platform that aims to foster stronger collaboration between Europe and Africa, has been scheduled for July 219. The second edition is themed “Partnership of Equals: Sharing Values, Sharing Prosperity” – a new approach and paradigm for the relationship between Europe and Africa, changing the narrative for both continents to create an accountable, prosperous and sustainable future together. The Forum is a networking and discussion platform underpinned on the power of Diasporas for connecting people, cities, regions and continents. By invitation only, EurAfrican Forum’s event gathers prominent…

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Amazon retreats from its China business in defeat, could it also mean anything for its India market?

Is it possible that the almighty Amazon, global dominator of all things retail and pulveriser of hapless competitors, has finally conceded defeat in China? It certainly seems that way, as the US-based global e-commerce Goliath announced it would bring the curtain down on its Chinese marketplace business in July and will revert to offering only overseas products to domestic Chinese customers. “We are notifying sellers we will no longer operate a marketplace on Amazon.cn, and we will no longer be providing seller services on Amazon.cn effective July 18,” the company…

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Zipline launches on-demand drone deliveries in Ghana after Rwanda

Zipline, the San Francisco-based UAV manufacturer and logistics services provider, has launched a program in Ghana today for drone delivery of medical supplies. Working with the Ghanaian government, Zipline will operate 30 drones out of four distribution centers to distribute vaccines, blood and life-saving medications to 2,000 health facilities across the West African nation daily. “We’ll do 600 flights a day…and serve 12 million people. This is going to be the largest drone delivery network on the planet,” Zipline CEO Keller Rinaudo told TechCrunch on a call from Accra. Zipline…

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WorldRemit joins mobile money provider Paga to allow direct pay to 11 million Nigerian accounts

International cash transfer company WorldRemit signed an agreement with mobile money provider Paga to allow direct payments to 11 million additional accounts in Nigeria. In a statement the global remittance company said the move “considerably grows” its footprint in the country, which opened new channels to its users in more than 50 countries transferring money to citizens in Nigeria. According to figures cited by WorldRemit, Paga is the country’s widest-reaching mobile money company with more than 14,000 agents present across 36 states. Approximately $26 billion was transferred into Nigeria during…

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Jumia hits US$196-million in landmark New York IPO but investors may regret funding an elusive dream

Jumia billed as Africa’s first “tech unicorn”, is a venture-capital funded company valued at more than $1bn on the New York Stock Exchange. Its lack of a profitable model didn’t seem to matter much on the first day of trading on Friday, as the stock surged by 75%. Jumia filed S1 documents with the US Securities and Exchange Commission (SEC) last month to launch its IPO, which was underwritten by banks such as Morgan Stanley and Citigroup. The stock went on sale on Friday 12 April 2019, initially valued at…

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Opera introduces Reborn 3, a desktop browser, freeVPN, ad blocker and Crypto Wallet

Opera Software has launched a new version of its desktop browser and it’s something a little outside the norm. Opera Reborn 3 (aka Opera 60) comes with a built-in cryptowallet, a free unlimited VPN, and a Web 3 explorer for accessing blockchain apps. Reborn 3 also retains all the handy extras that make it stand out from most mainstream browsers, including a built-in ad-blocker, the ability to send links, videos and notes to other devices via Flow, a currency converter and a raft of customization options. “The web has transformed…

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Digital now makes up 51% of US advertizing spending – Magna Report

Magna released a bullish assessment and forecast for US ad revenue in 2018 and 2019. The report covers all the major advertising and media categories including both digital and traditional media. Ad sales up, especially digital. Magna says that “net advertising sales” will grow by 6.9 percent this year to reach $207 billion, which is “a new all-time high.” And, for the first time, digital ad revenues surpassed 50 percent of total ad spending in the US. The company said that digital ad revenue in 2018 will reach $106 billion,…

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Unregulated digital apps loans, consumer protection among emerging issues that require attention- CBK Kenya Study

The 2019 FinAccess Household Survey report presents results of data collected during October – December 2018 covering 11,000 households across the country. The survey targeted individuals aged 16 years and above, from scientifically selected households, designed to provide significant estimates at the national and regional level and by residence (rural and urban areas). The 2019 survey focussed more on the usage, quality and impact/welfare dimensions of measuring financial inclusion. In addition, the questionnaire incorporated a needs-based framework to the measure the relevance of financial services and products; financial health and…

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